Intellia Therapeutics (NASDAQ:NTLA) Cut to Equal Weight at Morgan Stanley

Morgan Stanley downgraded shares of Intellia Therapeutics (NASDAQ:NTLA) from an overweight rating to an equal weight rating in a research report released on Monday morning, MarketBeat reports. They currently have $11.00 target price on the stock, down from their previous target price of $56.00.

NTLA has been the topic of several other reports. Citigroup reduced their target price on Intellia Therapeutics from $25.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. BMO Capital Markets reduced their price objective on shares of Intellia Therapeutics from $70.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Intellia Therapeutics in a research report on Tuesday, November 19th. William Blair reiterated a “neutral” rating and set a $14.00 price target on shares of Intellia Therapeutics in a research report on Monday, November 18th. Finally, Barclays lowered their price objective on shares of Intellia Therapeutics from $76.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.71.

Intellia Therapeutics Stock Up 1.1 %

Shares of NASDAQ NTLA opened at $10.12 on Monday. The firm’s fifty day moving average is $12.41 and its 200 day moving average is $17.78. Intellia Therapeutics has a 52 week low of $9.25 and a 52 week high of $34.87. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -1.86 and a beta of 1.83.

Intellia Therapeutics (NASDAQ:NTLA) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($1.34) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.03. The firm had revenue of $9.10 million for the quarter, compared to the consensus estimate of $8.28 million. The business’s revenue was down 24.1% on a year-over-year basis. During the same period last year, the company posted ($1.38) earnings per share. Equities research analysts anticipate that Intellia Therapeutics will post -5.09 earnings per share for the current year.

Insider Buying and Selling at Intellia Therapeutics

In other news, CEO John M. Leonard sold 26,807 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $12.18, for a total transaction of $326,509.26. Following the sale, the chief executive officer now owns 941,115 shares in the company, valued at $11,462,780.70. This represents a 2.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 28,735 shares of company stock worth $349,909. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intellia Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Elmwood Wealth Management Inc. grew its holdings in Intellia Therapeutics by 0.9% during the third quarter. Elmwood Wealth Management Inc. now owns 67,774 shares of the company’s stock valued at $1,393,000 after purchasing an additional 600 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Intellia Therapeutics by 27.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,674 shares of the company’s stock valued at $77,000 after acquiring an additional 794 shares during the period. Capstone Investment Advisors LLC grew its stake in shares of Intellia Therapeutics by 1.4% during the 3rd quarter. Capstone Investment Advisors LLC now owns 61,129 shares of the company’s stock valued at $1,256,000 after acquiring an additional 831 shares during the period. KBC Group NV increased its holdings in Intellia Therapeutics by 37.3% in the 3rd quarter. KBC Group NV now owns 3,753 shares of the company’s stock worth $77,000 after acquiring an additional 1,020 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its holdings in Intellia Therapeutics by 5.4% during the third quarter. Axxcess Wealth Management LLC now owns 20,215 shares of the company’s stock valued at $415,000 after purchasing an additional 1,044 shares in the last quarter. 88.77% of the stock is owned by institutional investors.

Intellia Therapeutics Company Profile

Intellia Therapeutics, Inc, a genome editing company, focuses on the development of curative therapeutics. The company's in vivo programs include NTLA-2001, which is in Phase 1 clinical trial for the treatment of transthyretin amyloidosis; NTLA-2002 for the treatment of hereditary angioedema; and NTLA-3001 for alpha-1 antitrypsin deficiency associated lung disease.